Tag: PayU India

  • Stand-up comedians inspire you to #BeLazy in new campaign

    MUMBAI: PayU India, a leading online payment service provider, has launched an innovative digital and marketing campaign #BeLazy, to promote their deferred payment feature ‘LazyPay’. The campaign includes one of its kind content-led brand films created by leading creative agency – The Glitch, featuring popular stand-up comedians of the country such as Cyrus Sahukar, Hoezay Covaco, Varun Thakur, Jeeveshu Ahluwalia, Kaneez Surka and others. The campaign also includes some outlandish social media outreach programs, ATL activations and unique customer engagement activities.

    LazyPay is a first-of-its kind premium deferred payment feature for consumers. It is a product aimed at those who recurrently transact digitally for any amount up to INR 2500 where they have an option to pay later. The aim of the product is to drive faster purchase experiences and convenience by reducing friction on online checkouts and achieving a zero-drop situation for online payments. It is a convenience product for anyone to pay later and the facility could extend for amounts from INR 3000 and even up to INR 10,000, depending upon customer behavior. It appears as a payment option at the time of checkout on websites and apps integrating the product. LazyPay provides users a deferred payment facility for 15 days with a transaction limit decided as per the purchasing behavior of every individual.

    PayU India’s campaign for LazyPay aims at a very strong understanding of their consumer base and has thus adopted a strategy which is content led that connects humor and proposition through effective media choices along with smart communications that customers can relate to. The first film of the campaign has gone live today. 

    Excited about the new marketing campaign, Abhijit Bhattacharya, Head Marketing – Consumer Business, PayU India, said “The #BeLazy brand films and campaign positions LazyPay as a catalyst of convenience and connects with the millennials in India who are always on the go and need a platform that’s convenient, quick and can help them ‘buy now pay later’. We have imbibed learnings from real-life situations and used product innovations to solve for them.”

    He adds, “The entire campaign has been conceptualised with the insight that today, being lazy is not a vice anymore; in fact being ‘Lazy is cool’. The campaign will be spread over two months and includes eight brand films”

    LazyPay is the perfect example of PayU’s philosophy of simplifying the online payment process, wherein they separate the purchase and payment experiences and provide a hassle-free deferral payment facility to the consumer.

    “With this new campaign we will roll out interesting LazyPay merchandise and innovative consumer connect activities. The focus of the campaign is to spread awareness of the launch of PayU’s deferral platform and to inform the consumers on how, each of its feature, which are in turn beneficial to them for their day to day activities” added Abhijit.

    Commenting on the launch of the brand films, Varun Duggirala, Content Chief, The Glitch, “LazyPay is a platform that inherits the fact that laziness is a trait in every human being and emphasizes on & celebrates the aspect of being lazy. This product is basically for people who prefer convenience while making an online purchase. Hence, we have tried to keep these brand films in the ‘advertainment’ category which is a combination of advertising and entertainment. We have tried to leverage the popularity of stand-up comedians from across the country which people can instantly relate to. Glitch has selected the best people for the job and tried to make this a longer and wider campaign due to multiple stars.”

  • PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    MUMBAI: The Reserve Bank of India has given PayU in-principal approval to set up and operate Bharat Bill Payment System (BBPS).  PayU has been listed amongst the first non-bank entity that has been grated this license out of the total of 62 non-bank entities that applied for the said license.  BBPS is an is an integrated bill payment system in India, offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. Consumers will be the ones who will get the maximum benefit out of this as they will be able to pay their bills anytime and anywhere in India.

    Underlining the significance of the BBPS for the payments ecosystem in India, PayU India co founder and COO Shailaz Nag  commented, “PayU is very hopeful about the prospects of BBPS. With BBPS, customers would be presented with the opportunity of easy bill payments for almost all Billers in the country. PayU would ensure that the most convenient and best in class user experience is delivered to its customers, thus encouraging more people to transact online. With the provisions of BBPS, PayU believes more serious players will apply for authorization to work as BBPOU with RBI. Further admittance of prominent industry players in the business will only enhance the country’s payment ecosystem”.  

    The BBPS license gives a big boost to PayU India’s efforts to create a meaningful difference in the payment ecosystem and strengthen its position as the leader in the utility bill payments segment. The idea is to offer efficient and cost-effective alternative to the existing payment systems and enhance consumer confidence and experience. PayU’s seamless technology coupled with the recent BBPS license will help PayU India to get one step closer to achieve its mission of “Simplifying payments and financial services for everyone”.

  • PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    PayU India gets approval to function as BBPU under the Bharat Bill Payment System (BBPS)

    MUMBAI: The Reserve Bank of India has given PayU in-principal approval to set up and operate Bharat Bill Payment System (BBPS).  PayU has been listed amongst the first non-bank entity that has been grated this license out of the total of 62 non-bank entities that applied for the said license.  BBPS is an is an integrated bill payment system in India, offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. Consumers will be the ones who will get the maximum benefit out of this as they will be able to pay their bills anytime and anywhere in India.

    Underlining the significance of the BBPS for the payments ecosystem in India, PayU India co founder and COO Shailaz Nag  commented, “PayU is very hopeful about the prospects of BBPS. With BBPS, customers would be presented with the opportunity of easy bill payments for almost all Billers in the country. PayU would ensure that the most convenient and best in class user experience is delivered to its customers, thus encouraging more people to transact online. With the provisions of BBPS, PayU believes more serious players will apply for authorization to work as BBPOU with RBI. Further admittance of prominent industry players in the business will only enhance the country’s payment ecosystem”.  

    The BBPS license gives a big boost to PayU India’s efforts to create a meaningful difference in the payment ecosystem and strengthen its position as the leader in the utility bill payments segment. The idea is to offer efficient and cost-effective alternative to the existing payment systems and enhance consumer confidence and experience. PayU’s seamless technology coupled with the recent BBPS license will help PayU India to get one step closer to achieve its mission of “Simplifying payments and financial services for everyone”.

  • PayUMoney facilitated 1 Billion Transactions and 1.3 Lakhs Sign Ups for Indian SMEs in the online marketplace!

    PayUMoney facilitated 1 Billion Transactions and 1.3 Lakhs Sign Ups for Indian SMEs in the online marketplace!

    MUMBAI: Since its inception in April 2013, PayUMoney has carved out a new market for Indian SMEs – with easy payment collection solutions and hassle-free integration, more than 1.3 lakhs SMEs have signed up with PayUMoney while 30,000 live merchants have already processed transactions worth 1 billion rupees!

    Achieving this feat in such a short span is nothing short of a revolution. How did PayUMoney pull off this task? By simply following the mantra – Whatever the payment collection need, PayUMoney has the payment solution to match!

    PayUMoney stepped in to erase the basic issues faced by Indian SMEs. Typically, a small business owner would first put in: Monies + Time + Energy + Build Website + Maintenance = End Product, i.e. an ecommerce website. This is a long and tiring process. But PayUMoney takes away all these steps and provides Indian sellers specific solutions for specific categories of business.

    Scaling up operation was the first step to success for PayUMoney!

    PayUMoney’s payment solution features are designed in a way such as to enable an average Indian seller to focus solely on his business as PayUMoney takes care of the payment requirements in a hassle-free manner!

    To achieve this seamless work-relationship, PayUMoney invested in a strong technology product with a solid scalable process to help lakhs of Indian sellers who were looking to increase their sales through online channel. This investment helped merchant acquisition and customer service teams to operate efficiently, enabling Indian sellers to adopt the online channel easily. But what makes PayUMoney different amongst the many ecommerce players who offer payment collection solutions to their SME partners?

    The below table showcases the average monthly transactions processed by live merchants on PayUMoney versus the average monthly transaction processed by traditional ecommerce players.

    This clearly indicates that using the PayUMoney has been more effective for SMEs to sell their big ticket products online when compared to ecommerce players as traditionally, ecommerce players act as aggregators, displaying products by other vendors as well. Using PayUMoney enables SMEs to not only market their products online directly but also collect payments for them.

    Because of the ease of use and quick integration, there has been Quarter by Quarter growth in merchant acquisition for PayUMoney since April, 2013:

    The above graph depicts the quarter on quarter growth for seller acquisition. In the 2nd quarter itself, merchants acquisition grew six times over, and the third, fourth and fifth quarter have seen acquisition double over each time, respectively.

    Click here to read full report…